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Barchart
Barchart
Rich Asplund

Cocoa Rallies Sharply Due to Inadequate Rain in West Africa

Ice West Africa London NY ICCO Ivory Coast

July ICE NY cocoa (CCN24) on Wednesday closed up +529 (+6.03%), and July ICE London cocoa #7 (CAN24) closed up +464 (+6.55%).

Cocoa prices Wednesday rallied sharply for a second day, with NY cocoa posting a 3-week high and London cocoa posting a 2-week high.  Inadequate rain in West Africa is causing an uncertain outlook for cocoa production in the region and is boosting prices.

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